EURUSD Playing The Wave 5 Downside ExtensionIn this update we review the recent price action in the EURUSD and identify the next high probability trading opportunity and price objectives to target
Wave5
$ABT - Quick Elliott Wave Analysis and Buy Setup I have gone long on ABT on Friday but here is the Elliott Wave analysis behind this entry and why I went long
I am looking for Wave 5. But My profit target is the peak of wave 3
There is still time to go long $ABT
TSLA to $530, $570, or $732Following Elliot wave analysis, it appears tesla just completed wave 4 of wave 5. If this is the correct current pattern, we should see Tesla going to a full length of wave 1 which would be $350. A complete 1 of wave 3 which would be $570, or max of 1.618 which would be $732. I do not believe with how the market is that $732 will happen, but with Battery day and possible SP inclusion, we should be seeing $530-$570 coming fairly soon. After wave 5 completion, we should see major consolidation in Tesla.
USD/JPY Possible Short Setup One on the H4 Four Hour ChartUSD/JPY Possible Short Setup One on the H4 Four Hour Chart
The daily chart is sideways but it does have some momentum downwards previously
The dollar index is overall downtrend but taking a pause right now. Lets see if this is a potential short setup.
CAD/JPY had a Great Looking Setup One This is a short tutorial type to share how I trade. I call this the Setup 1.
So we saw this setup this am before London open. and traded it.
Check out how we played it and how you can play this. Very powerful method.
for more please go to my blog at www.iTradeAIMS.com
ORBEX: Correction Could Have Ended At 1.2767 Low! What Then?GBPUSD could have ended the wave minor 4 correction at 1.2768 Nov 8 low.
This scenario sees the current structure as impulsive with minute waves 1,2 and 3 (perhaps 4 too) completed.
In case prices slide below 1.2886 we could see the end of minuette wave a, then receive a b and c lower as part of an a,b,c zigzag. However, if prices break above 1.2940 the chances that we will see minute wave 5 creating fresh highs could increase. This could be followed by a minute correction a,b,c, and then another bullish impulse to complete minor wave 5 (intermediate wave 3).
Stavros Tousios
Head of Investment Research
Orbex
This analysis is provided as general market commentary and does not constitute investment advice.
